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I entered a start date and the web site calculated a different date for my first payment. What am I doing wrong?

April 26, 2017calculated different doing payment web site wrong

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I entered a start date and the web site calculated a different date for my first payment. What am I doing wrong?

2 Answers

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If you entered a start date that is less than five business days from today’s date, your date will be automatically adjusted to include the five business day verification (prenote) process. Example: Today is January 26 (Monday) and a payment frequency of semi-monthly (15th and 30th) is selected. Friday the 30th is entered as the first payment date. The first payment date is set to February 16. The 16th is determined by calculating five business days (January 27 – February 2), and then determining if the 15th is a business day. Since the 15th is on a Sunday your first payment date is set to the 16th.

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If you entered a start date that is less than five business days from today’s date, your date will be automatically adjusted to include the five business day verification (prenote) period. Example: Today is January 26 (Monday) and you entered January 30 (Friday) as your payment start date.